“TRIMMING” OVERSEAS INVESTMENTS: J.P MORGAN, AND THE WIDER ...September 11, 2013
This article from the Wall Street Journal was sent to me by Ms. K, and I'm sharing it for obvious reasons. During the course of her visit with me last summer, former Assistant Secretary of Housing and Urban Development, Catherine Austin Fitts, outlined a sweeping scenario that, to this day, leaves me rather breathless in appreciation. She maintained that there was an effort under way on the part of the West's financial powers-that-be, and in particular, the Anglo-American component, to retrench back into their North American power base. This view surprised me, for I had been arguing, from a different perspective, for exactly the same view in various interviews on The Byte Show and elsewhere.
In addition to this idea, we explored during our nearly ten hours' of conversation, the idea that 3-d printing was a "manufacturing meme" being heavily promoted by the same power elite in its effort to retrench into North America and revitalize its manufacturing economy.
This, however, would not work in and of itself. And thus far, I have avoided mentioned yet another component of this retrenchment, namely, the recall of capital from the markets of the developing world back into the West. This is not a story I have hitherto covered here, but it is a significant story, and financial advisors in developing nations are well aware of this phenomenon. According to an August 24, 2013 article in the Wall Street Journal, JP Morgan is beginning a process of trimming and scaling down its ties to foreign banks. In the view of the Wall Street Journal, this is in response to heightened regulatory constraints.
I suspect that the deeper story is that "regulatory constraints" are a convenient excuse to cloak what appears to be a growing agenda on the part of the Anglosphere power elite, faced as they are with a rising global opposition to their unipolar interventionist policies, and a BRICSA bloc intent upon challenging the financial version of that unipolarity:
Let us be very clear as to what this BRICSA bank represents: it stands both within, and outside of, the international financial power centers erected by the Anglosphere in the period between the two World Wars and thereafter, those power centers represented by the IMF(INternational Monetary Fund), the WTO (World Trade Organization), the BIS (Bank of International Settlements), and the World Bank.
The establishment of this bank represents something else: the determination of the nations in the BRICSA entente cordial - and yes, my allusion to World War One Geopolitics is intentional, you'll see why in a moment - to avoid entrapment in a Central Powers' alliance of crumbling imperial regimes. Europe (Austria-Hungary), a polyglot confederation of many languages and cultures, bound together by the artificial chains of a common currency, the Schilling....er....Euro, and a multilingual military that looks powerful on paper, but which even the ill-equipped Russians can easily handle, unless, of course, Austria-Hungary calls in the Big Brother...
Then the Germans were warned by their premier statesman, Bismarck, never to let the agenda of the alliance be set in Vienna. To update a bit, never let the agenda be set in Brussels.
And as far as the BRICSA nations are concerned, they are tired of having the agenda being set in Washington, District of Corruption.
The old blocs, in other words, are being reformed, with some significant additions - Brazil, India, South Africa - that are fed up with western imperialism (and India should know) - and they are being reformed along new lines. The old lines counted divisions, tanks, missiles, ICBMs, mirved-warheads and megatonnage.
The new lines count reserves, liquidity, leverage, confidence, and that most difficult thing to obtain: public trust in an era of growing cynicism.
See you on the flip side.